American Century Companies Inc. Acquires 787 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

American Century Companies Inc. lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,921 shares of the software maker’s stock after buying an additional 787 shares during the period. American Century Companies Inc. owned about 0.24% of Paylocity worth $17,658,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PCTY. WCM Investment Management LLC raised its stake in Paylocity by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock worth $525,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Paylocity by 3.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after buying an additional 100 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Paylocity by 9.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,530 shares of the software maker’s stock worth $202,000 after buying an additional 127 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In other news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The disclosure for this sale can be found here. 22.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCTY has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. BTIG Research dropped their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Paylocity in a report on Thursday, September 5th. Robert W. Baird dropped their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Finally, Jefferies Financial Group reduced their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.13.

Paylocity Stock Performance

Paylocity stock opened at $162.58 on Friday. The stock’s 50 day moving average price is $154.14 and its two-hundred day moving average price is $154.83. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 3.80 and a beta of 0.94. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $206.28.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same period last year, the company posted $0.76 earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.51 EPS for the current year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.